Oil falls to near $82 as US crude supplies rise - KAIT Jonesboro, AR - Region 8 News, weather, sports

Oil falls to near $82 as US crude supplies rise

By ALEX KENNEDY
Associated Press Writer

SINGAPORE (AP) - Oil prices fell to near $82 a barrel Wednesday in Asia after a report showed U.S. crude supplies rose more than expected last week.

Benchmark crude for June delivery was down 52 cents to $82.22 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.

The June contract fell $3.45, or 4 percent, to settle at $82.74 on Tuesday on investor fears a $144 billion bailout for Greece won't keep the debt crisis from spreading to other European countries.

U.S. crude inventories rose 3.0 million barrels last week, the American Petroleum Institute said late Tuesday. Analysts had expected an increase of 1.5 million barrels, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

Inventories of gasoline and distillates also rose, the API said.

The Energy Department's Energy Information Administration is scheduled to announce its supply report later Wednesday.

In other Nymex trading in June contracts, heating oil was steady at $2.259 a gallon, and gasoline slipped 0.27 cent to $2.319 a gallon. Natural gas rose 1.0 cent to $4.023 per 1,000 cubic feet.

In London, Brent crude was down 40 cents at $85.27 on the ICE futures exchange.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Region 8 News</span><a class="customMoreLink" href="/Global/category.asp?C=4391" target="_top">More >></a>Region 8 NewsMore>>

  • A Family for Me: Alex

    A Family for Me: Alex

    Friday, February 23 2018 9:08 PM EST2018-02-24 02:08:56 GMT
    Friday, February 23 2018 10:49 PM EST2018-02-24 03:49:43 GMT
    10-year-old Alex is looking for a home. (Source: KAIT-TV)10-year-old Alex is looking for a home. (Source: KAIT-TV)
    10-year-old Alex is looking for a home. (Source: KAIT-TV)10-year-old Alex is looking for a home. (Source: KAIT-TV)

    This week, Region 8 News' Ryan Vaughan had the opportunity to talk with 10-year-old Alex. 

    This week, Region 8 News' Ryan Vaughan had the opportunity to talk with 10-year-old Alex. 

  • Road closed due to accident

    Road closed due to accident

    Friday, February 23 2018 10:29 PM EST2018-02-24 03:29:50 GMT
    Friday, February 23 2018 10:38 PM EST2018-02-24 03:38:30 GMT
    (Source: KAIT)(Source: KAIT)

    A major road in Cleburne County is closed through Saturday, emergency officials said. 

    A major road in Cleburne County is closed through Saturday, emergency officials said. 

  • Highways across Region 8 closed for high water as rain continues

    Highways across Region 8 closed for high water as rain continues

    Friday, February 23 2018 10:29 PM EST2018-02-24 03:29:20 GMT

    The showers continue to fall, pushing this to maybe be the wettest February on record for Jonesboro. As the rain continues, the significantly high water levels are causing problems for roads and highways across the area. 

    The showers continue to fall, pushing this to maybe be the wettest February on record for Jonesboro. As the rain continues, the significantly high water levels are causing problems for roads and highways across the area. 

Powered by Frankly